PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1443400
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1443400
Global Cable Conduit Systems Market is valued at approximately USD 7.12 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 7.80% during the forecast period 2023-2030. Cable conduit system is a connection of tubes designed to protect and guide electrical wires through buildings, enabling the transmission of power and low-voltage communication. The system is primarily tubular in structure and can be either rigid or flexible, with construction materials including metals such as stainless steel, galvanized steel, or aluminum, as well as non-metallic materials. The Cable Conduit Systems Market is expanding because of factors such as rising demand for safe wiring systems, growing construction activities in the commercial sector and increased global energy demand.
As industries and infrastructural developments burgeon worldwide, the imperative for secure and reliable wiring solutions becomes increasingly pronounced. The rising need for safe wiring systems is marked by several factors such as stringent safety standards, ensuring the seamless transmission of electricity and rising fatality rates due to improper wiring systems. According to the U.S. Bureau of Labor Statistics, there were 126 fatal electrical injuries in the United States in 2020. Moreover, according to the Ontario Electrical Safety Report (OESR) by ESA in 2022, Residential (28%), utility (12%), and commercial (12%) settings were the most common places for electrical-related fatalities between 2018 and 2022. Furthermore, the expansion of construction activities, urbanization trends, and the expansion of transportation networks in emerging economies further scale the demand for cable conduit systems. Moreover, as governments and regulatory bodies intensify their focus on enhancing safety standards and infrastructure resilience, the adoption of cable conduit systems is expected to witness an upward trajectory across diverse application segments, including power generation, telecommunications, oil and gas, and transportation. However, factors such as high cost of raw materials, high installation and alteration costs of cable conduit systems hinder market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Cable Conduit Systems Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022. This can be attributed to factors such as the presence of developed commercial, residential, and industrial establishments, rising safety regulations, expansion of the aviation industry and growing technological advancements in the region. Asia Pacific is expected to grow significantly over the forecast period, owing to factors such as rising investments in projects such as smart cities, transportation networks, energy grids, and telecommunications infrastructure and expansion of the manufacturing sector, particularly in countries such as China, India, South Korea, and Taiwan.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable